The private-equity backed parent company of seven regional firms, and over 1,500 staff, says it has achieved 73% growth in annual revenues this year, driven both by acquisitions and organic growth.
Lawfront, which counts Slater Heelis and Brachers amongst its cohort, said revenue grew from £74 million to more than £128 million, achieved in part through the acquisitions of Trethowans, Simpson Jones, and Gill Turner Tucker in this financial year. Nelsons and Farleys were also acquired in previous years and the business has also acquired Field Seymour Parkes in recent months. making up the seven.
Commenting on the results Peter Martin-Simon, chief executive officer of Lawfront, said: “Our accounts for the last financial year reflect a group investing for growth: three acquisitions in the year, significantly higher turnover, and a successful refinancing since year-end that underlines lender and investor confidence in Lawfront.”
The consolidator announced a pre-tax loss of £2.1 million, down from £1.5 million profit last year, after the cost of acquisitions saw interest payments more than double to £13.8 million as part of an expanded debt facility; underpinned by successful refinancing from a “consortium of banks, which drew strong support from lenders and investors”.
Martin-Simon added the support amounted to an “external vote of confidence in our business” and reflects “our internal ambition”.
He added: “We remain committed to building the leading national legal services group by equipping our regional firms with the tools they need to compete and succeed in today’s market.”
The business said it had “continued to invest in its people, technology, including AI, and supporting infrastructure” and in a signal of future activity added it had further flexibility to fund continued investment and acquisitions after loan notes were also admitted to the Official List of The International Stock Exchange in June.
